A handful of Korea’s major institutional investors, including Allianz Life, plan to invest about 96 billion won in Apple’s building in Silicon Valley. According to industry sources on March 13, the nation’s four major institutional investors, including Allianz Life, decided to invest $83 million in “410-430 North Mary Avenue” located in Sunnyvale.
They will make the investment through a real estate fund which will be created in mid-March by Koramco Fund, a specialist in operation of real estate funds. With a maturity of five years, the fund would generate an annual yield of 4.58 percent.
America’s real estate investment firm Tristar Capital acquired the building from Rockwood Capital for US$290.7 million last month.
The office building is now used 100 percent by Apple Inc. It is a complex consisting of three three-story buildings, with a total floor space of about 60,000 square meters. Built as Boeing’s office building in 1989, it was renovated during the 2008-2010 period.
A group of South Korean insurers will invest 69 billion won ($60 million) in 29-year senior debt secured on Australia’s National Archives Preservation Facility in Canberra, attracted to its long maturity, as they are keen to extend asset durations ahead&hellip
The Construction Workers Mutual Aid Association (CWMAA) will acquire a language center building of the University of New South Wales (UNSW) in Sydney for A$71 million ($56 million), jointly with a South Korean insurance company. CWMAA, with $2.8 billion in&hellip
South Korean banks and institutional investors will provide $140 million in syndicated loans to a US gas-fired plant project in Pennsylvania, part of $460 million loans originated by BNP Paribas to build the power plant. Of the $140 million loans,&hellip